Boston investment adviser must pay couple $48.5 million -ruling

April 16, 2015 9:17 PM

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April 16 (Reuters) - A Boston investment management firm must pay $48.5 million in damages to a couple who were advised to invest in a Polish tobacco company that an arbitrator deemed "grossly unsuitable."

Family Endowment Partners LP and its head, Lee Weiss, steered the couple, James and Jane Sutow, to a $9 million investment in Biosyntec Polska, according to an American Arbitration Association ruling on Tuesday. The Polish company planned to "revolutionize the tobacco business" with a purported filt...